Wall St. Shares Forfeit Early Gains as Bond Yields Rise
- 6 years ago
Wall St. Shares Forfeit Early Gains as Bond Yields Rise
Initial claims for U. S. unemployment benefits were below expectations, indicating a tight labor market, while U. S. Institute of Supply Management data showed prices paid by U. S. factories hitting a near 7-year high,
and fourth-quarter labor costs increased by 2.0 percent, adding to inflation concerns.
The Dow Jones Industrial Average rose 37.32 points, or 0.14 percent, to 26,186.71, the S&P 500 lost 1.83 points, or 0.06 percent, to 2,821.98
and the Nasdaq Composite dropped 25.62 points, or 0.35 percent, to 7,385.86.
(Reuters) - Wall Street stocks gave up early gains on Thursday as bond yields rose
and technology stocks retreated ahead of a host of high-profile earnings.
Analysts see fourth-quarter S&P 500 company earnings growth of 14.9 percent, up from 12 percent expected on January 1.
4-week moving average
Banks, which benefit from higher interest rates, led the S&P 500 financials to a 1.0
percent gain, with Goldman Sachs helping to push the Dow into positive territory.
Initial claims for U. S. unemployment benefits were below expectations, indicating a tight labor market, while U. S. Institute of Supply Management data showed prices paid by U. S. factories hitting a near 7-year high,
and fourth-quarter labor costs increased by 2.0 percent, adding to inflation concerns.
The Dow Jones Industrial Average rose 37.32 points, or 0.14 percent, to 26,186.71, the S&P 500 lost 1.83 points, or 0.06 percent, to 2,821.98
and the Nasdaq Composite dropped 25.62 points, or 0.35 percent, to 7,385.86.
(Reuters) - Wall Street stocks gave up early gains on Thursday as bond yields rose
and technology stocks retreated ahead of a host of high-profile earnings.
Analysts see fourth-quarter S&P 500 company earnings growth of 14.9 percent, up from 12 percent expected on January 1.
4-week moving average
Banks, which benefit from higher interest rates, led the S&P 500 financials to a 1.0
percent gain, with Goldman Sachs helping to push the Dow into positive territory.